Big cos power Guj's solar dreams

Essar, Indiabulls plan projects; Nobel Laureate to chart solar road map.

Indian corporates are aiming to strike it rich from the emerging solar energy sector by taking the early-bird advantage. And, Gujarat is turning to be a hot-bed as a dozen players including Essar, Indiabulls, Reliance, ADAG, Tata Power, Suryachakra and Euro group have flocked the state.

What’s more, the state government is in advanced talks with Nobel Laureate Professor John Byrne to chart a roadmap that will help in translating proposals of over 600 MW into a reality.

Major players like Essar, Indiabulls, Reliance, ADAG, Tata Power, Suryachakra and Euro Group among others have come calling to the Gujarat Energy Development Agency (GEDA) with proposals lined up in photovoltaic, thermal and hybrid solar projects.

Essar is aiming to foray into solar with an innovative hybrid project which will be a combination on both solar and gas for power generation whereas Indiabulls has proposed 150 MW of photovoltaic (PV) cells unit in the state, according to sources close to the development.

Mukesh Ambani-controlled Reliance and Euro Solar have already been given a letter of intent of 5 MW each from the 10 MW quota allotted by the Centre to each state. Reliance is planning a PV cells unit at its Jamnagar SEZ in a big way.

Gujarat government is working on a seperate 'Gujarat Solar Policy' to give boost to the players and a seperate tariff is also being worked out.

"Solar is very high on our agenda and we will soon announce our own seperate policy to support it. We are even aiming to incorporate solar as a seperate sector for investment in our upcoming Vibrant Gujarat Investors Summit next year," said Saurabh Patel, state energy minister.

Tata Power is carrying on pilot project in Kutch for photovoltaic cells unit with a capacity to generate about 150-200 MW, said sources.

While Suryachakra is looking at setting up a 100 MW solar power project, ADAG group is in the process of conducting feasibility tests, said sources close to the development.

"We are close to finalising proposals from about 10-12 players that would generate atleast 600 MW of solar power,” said Vagmin Buch, director, GEDA, while refusing to divulge name of companies.

The cost of generation for PV cells is currently about Rs 13-15 per unit whereas for thermal it is Rs 10-11 per unit.

“Our research says that the manner in which fossil fuel costs are rising and the technology advancement in solar will bring their prices at par in next four-five years. We have roped in solar experts from US to chart a road map for Gujarat and will succeed in bringing the cost further down and increasing the effeciency which is about 38-40% in the US currently to commercial application in next couple of years," said Buch.